Bitcoin whales are doubling down on their accumulation strategy despite BTC’s recent price struggles, signaling strong institutional confidence in the cryptocurrency’s long-term potential. Recent analysis of the Bitcoin NVT indicator had warned of potential weakness, but large holders appear unfazed by short-term volatility.
Whale Accumulation Hits 4-Month High
According to data from Santiment, addresses holding between 1,000-10,000 BTC have increased their positions significantly, with the total number of whale wallets reaching 1,993 – the highest level since December 2024. This 2.6% growth in whale addresses over the past five weeks comes as Bitcoin trades between $81,000-$84,000 support levels.
Key Accumulation Metrics
- 50 new whale wallets added in past 5 weeks
- Total BTC held by whales: Over 1.9 million
- Current accumulation zone: $81,000-$84,000
- Historical significance: Highest whale count since Q4 2024
Technical Analysis Points to Potential Recovery
Crypto analyst Captain Faibik has identified a bullish Falling Wedge pattern suggesting Bitcoin could rally back to its recent all-time high of $109,000. This technical formation, combined with strong asymmetric demand and reduced selling pressure, indicates potential for significant upside in April.
FAQ
Why are whales accumulating Bitcoin now?
Large investors typically accumulate during price dips, viewing temporary weakness as an opportunity to increase positions at better valuations.
What does this mean for Bitcoin’s price?
Historically, sustained whale accumulation has preceded significant price rallies, though past performance doesn’t guarantee future results.
How long could this accumulation phase last?
Analysts expect the current phase to continue through early April, with potential breakout targets around $109,000 by month-end.
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